PenderFund Capital Management Ltd. (Pender) has announced its intention to terminate the Pender Canadian Opportunities Fund as of Dec. 15, 2019.

Effective Oct. 15, the fund was closed to any new purchases excluding existing pre-authorized payment plans, which will continue until the fund’s termination date.

Investors may redeem or switch their investments in the fund into another Pender mutual fund until the close of business on Dec. 13, 2019.

Pender says investors will not be required to pay any redemption fees, short-term trading fees or switch fees upon any redemption or switch of their units or the termination of the fund. If such redemption or switch instructions are not received by Dec. 13, 2019, unitholders of the fund on the termination date will be paid cash equal to the net asset value of their units in the fund, says the company.

Pender encourages fund unitholders to consult with their advisor to understand the financial and tax implications of the fund termination and “to determine the solution that best suits their investment needs and personal situation.”